Definition of entrepreneurship

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Reference no: EM133647002 , Length: Words Count:400

Assignment:

You have just started work in a dedicated Entrepreneurship and Small Business (ESB) Ministry. ?Your minister would like you to develop your country's ESB policy. Please answer the following ?three questions building on this developing scenario and focusing the United States from ?the GEM report.

1. Your initial research has suggested that there is no simple definition of entrepreneurship but other policy makers have used a definition from the European Union (EU). It states that: 'Entrepreneurship is the mindset and process to create and develop economic activity by blending risk-taking, creativity and/or innovation with sound management within a new or existing organisation'. This definition sounds appealing to you as it combines familiar concepts - mindset, process, risk taking, and context (new or existing organisation).

However, you also realise that there are problems with this definition including the unit of analysis - the first part talks about entrepreneurial personality, the second part about process and the third part looks at new or existing businesses. You need to come up with a working definition of entrepreneurship for the United States.

• Based on your reading, and what you have learned in the module what entrepreneurship definition would you use? Justify your choice for your country. (400 words)

Reference no: EM133647002

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